As the company released its second quarter financial statement, KAR Auction Services also announced on Thursday the creation of a new operating segment — KAR Remarketing Services. KAR Remarketing Services is designed to align the company’s AutoVIN, Dent Demon, High Tech Locksmiths and PAR North America businesses. Picked to serve as president of this new […] [Read More]

If there is a groundswell of momentum for Bob Wolfsen’s Auto Auction In The Round concept — which has earned a patent from the United States government — auctions could physically look much differently than they do today. Walk into most auto auctions today and the arena where the sales happen has a familiar appearance: […] [Read More]

Along with an update on the specialty markets, Black Book also shared the significant difference in how much car prices depreciated last week versus trucks. The latest Black Book Market Insights report indicated cars overall decreased in value by 18 percent more than trucks. Out of all vehicle categories, editors noticed midsized cars saw the […] [Read More]

Manheim vice president of industry relations Jay Cadigan is retiring at the end of the month after a 40-year career in the auto industry, the auction company announced Tuesday. Cadigan has been with Manheim since 1993 and held the VP of industry relations position since 2012, following his time as Manheim’s market vice president for […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Mike Black, president and chief operating officer at Dent Wizard International. The emailed Q&A is below: Auto Remarketing: […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Patrick Dudash, senior vice president of sales at XLerate Group. The emailed Q&A is below: Auto Remarketing: […] [Read More]

The record-setting streak for the Manheim Used Vehicle Value Index reached three months in a row when Cox Automotive shared the new reading on Monday. The report indicated wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.75 percent month-over-month in July. This rise brought the index reading to 130.3, which was […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is John Kett, chief executive officer and president of Insurance Auto Auctions. The emailed Q&A is below: Auto […] [Read More]

The auto auction industry will set a new sales record of more than 10 million vehicles this year, auction experts predict. That’s up from 9.8 million in 2016. Ira Silver, National Auto Auction Association chief economist, believes 10 million sales for the industry is on target. He attributes the growth to an increase in the […] [Read More]

As dealers looked to accelerate sales to close July, Black Book noticed vehicle depreciation moved in a similar way to finish the month. The latest Black Book Market Insights report indicated most vehicle segments increased in depreciation during late July. Out of all car and truck segments, editors determined full-size pickups retained their value the […] [Read More]